tv Forbes on Fox FOX Business April 3, 2016 7:00am-7:31am EDT
any broad index is fine. i love the fact i managed to evangelize adam and get him into ind indexes. i like the eti, very broad index. er a long period of time they will do great. >> thank you very much. fantastic stuff. now, dave asm aran on fax. >> so walker came out today. i wrote down notes about wisconsin [ boo'ing ] >> he certainly can't endorse me after what i did to him in the race, right? but look at this. by the summer of 2015, wisconsin was facing a 2$2.2 billion 2 yer budget deficit. that's a terrible. >> the republican front-runner knocking the wisconsin governor in his state. this before the wisconsin open primary that happens tuesday. some here say trump's attack on walker is an attack on
conservative economic principles. are they right or wrong. hi, everybody. welcome to "forbes on fox." let's go in focus and find out what steve forbes, michael, elizabeth macdonald and others see in point of fact what donald was saying was wrong. they haven't had a budget deficit in wisconsin for years because they have a state amendment for a balanced budget. >> it was a diversion. donald knows it. wisconsin is a critical primary for him and ted cruz. if trump wins he sews up the nomination and if cruz wins he has a race ahead. what he doesn't realize walker is still very very popular among republicans and speaker ryan from wisconsin, very popular among republicans. i don't think the tactic will work. by the way in terms of attra attracting democrats to the republican primary, democrats have a very interesting primary with bernie and hillary clinton.
you won't get that traditional crossover. >> something else donald said was manufacturing jobs have been lost in wisconsin. from point of fact in 2010 to 2016, manufacturing jobs in wisconsin have increased. >> i think, you know, steve is right. certainly trump has had a big week up there with comments for wanting to throw women in jail for abortions and such. i think walker is a little vulnerable than he used to be. he attacked the university of wisconsin system by wanting to cut a quarter of a billion dollars out of your budget. i think trump, given the week he has had and down in the polls it might not be a bad thing he attacked walker. >> haven't conserve policies made wisconsin a better place economically speaking? >> they have. walker is not weak. he had a strong position, he was re-ele re-elected. he served two times and beat back a recall, right, that was launched by the unions.
>> this is actually -- could be the fourth referendum the way donald is setting it up. >> a great point. donald trump in a local radio interview in wisconsin faulted scott walker for not raising taxes. donald trump was evacuased a vi tax hikes. >> you think this is a smart move by trump, why? >> firstly, walker's approval rating has been hovering below 40% a long time now. secondly, i'm not sure about his conservative credentials after he approved $80 million of taxpayer money to fund a new nba arena for very rich men. i think that hurt his image up there. this whole thing of him going to cruz against trump. he went to trump for money to help him with the referendum. >> i think even hillary did that. among republican voters, wisconsin has an open primary.
i imagine trump is trying to get democrats to cross over and vote for him. among republicans, trump is not doing well. fox busineusiness network had a poll out. a 10 point jump by cruz and trump had been leading in the pea past. among conservative, a 61% lead by cruz. >> yeah. i don't know what oz is saying here. you have 80% republican approval rating of scott walker in his state. this is going to be the week we look back and see donald trump had the nomination sewed update and he absolutely utterly blew it with all his misstatement s and fumbles this week including going after a very popular governor at least among republicans and as pointed out the crossover strategy won't work because the sanders and
clinton race is so close. >> the reason i love this show is everybody thinks outside of the box. john, you think both trump and walker are wrong because of the job situation. how so? explain. >> well, yeah. the departure of manufacturing jobs is a sign walker has done a very good job to clamor for manufacturing jobs in the 21st century is the equivalent of some governor 100 years ago s saying look at our state, we're attracti ining farm jobs. mufg jobs are yesterday. the idea you will be a booming state by attracting them gets it totally backwards. >> we have to mention overall manufacturing jobs have increased, donald trump is wrong on that. john thinks some of these old jobs shouldn't come back. in terms of the republican split with trump, trump did meet this week with republican leaders, very open meeting, although behind closed doors, hwa see wan
going in there. will that mend the wounds between trump and the republicans? >> i think for republicans they're trying to keep things calm and know if you have a contested open convention, it can be very very bloody, a lot of hurt feelings which will hurt going into november. they're trying to tamp things down. yng it will do any good-bye the end of the day, if donald trump does not get that nomination you will have a real problem and why wisconsin is so critical. republican leaders now think the trump train may be derailed, especially if he loses in wisconsin. >> about wisconsin, walker, one thing that donald trump implied about walker was that he was weak. walker, as you mentioned before survived one referendum, two electi elections, another referendum coming on tuesday. he has stood up in the past to these incredible protests that lasted for months and months bank rolled by the unions, a lot of people were there. this guy is maybe a lot of things but he's not weak. >> no, he's not weak.
i tell you something, i had not seen a sitting governor face down an onslaught like that from the unions in recent memory. you want to pay the police officers and the firemen. this went deeper was he was f e facing. he really had to change an entrenched way of governing. i don't know, the point about manufacturing jobs, they're not yesterday's jobs, high paying jobs certainly in the oil patch. you have silicon valley firing on all guns and high paying manufacturing jobs as well. >> silicon valley proves why you don't need manufacturing jobs. you think apple or any of those companies produce any goods in california? certainly not. they do the high value design and then they leave the atmosphere manufacture to poorer countries overse overseas? rich is the expert in silicon valley, go ahead, rich. >> john is mostly right.
there is a second wave of high-tech manufacturing. tesla manufacturers in fremont, in silicon valley and you're seeing manufacturing coming back. that's the kind of manufacturing you want. >> bruce, you have this democratic split as well between bernie claiming to be all for the manufacturing sector, hill really trying her best. who wins in the democratic battle there? >> in the democratic side, you have madison, which is very liberal and so forth. i think it will be close. i think bernie might actually eke it out. the cool thing about wisconsin is it's a very diverse economy up there. not just dairy cows and the green bay packers, they have a lot of great businesses and so forth. and the media up there is starting to ask some questions we didn't see in this beltway press. >> we had to go with you last because you have that wisconsin accent. best. coming up, no work, no pay, right?
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i'm uma pem raj. >> back to more on "forbes on fox." have a great day, everybody. no work no food stamps, that's what food stamp recipi t recipients in mississippi were told this week and others could soon get the same news. we've been here before. we saw with the clinton work fare reform this dramatic drop from 4.9 million welfare recipients to 1.7 million happen. that's when you add work fare and that was done by a
democratic president. >> that's right. incentives do matter. the work retirement was very dependent under bill clinton to get people off the welfare roles. the state of maine did something earlier and saying if you want to collect food stamps an able-bodied adult you have to get a job, you need training, if you don't come for that we will not give you food stamps. welfare should be a helping hand up and not a way of life. >> something even democratic prtsz agree with. >> that's true. there's a mist in this thing that people who are using food stamps don't work. i think most do work. it's a mift thyth and the food is to give people a helping hand and i don't think this is a good thing. >> sabrina, i got to tell you, i know people, certain millenni millennials, i won't name any names who received food stamps
that don't need them. it's such a widely accepted program there are people who are getting them who don't deserve them. maybe to throw this workfare thing in would help, no? >> absolutely. we know there is widespread fraud in the food stamp program, far too many americans using this program that don't need to. washington has solicited people so they would join the program. you don't have to look any fa h farther than kansas. they went back to where you must work in order to receive food sta stamps. it's done tremendously well. three months later they had 45% fewer people using the program and they tracked these people and found jobs have increased, incomes have increased and poverty has declined. >> what i love, it is happening across the nation. mike mentioned maine. you mentioned kansas. in arizona, though, there is a pitch battle going on, steve. here's what one of the democratic lawmakers opposed to the idea said. this is the first time i have ever heard of the economic
theory that the path to prosp prosperity and self-reliance and money was achieved through starvation. starvation, what do you make of that? >> it shows how weak their arguments are. bruce is right. most people do work and that's not a big deal. having another abled body people work for their benefits, why not? makes them feel better and helps them get back on their feet. people don't mind that at all. you take the state of maine, they found people with big assets were getting food stamps and they stopped there. people going to disneyland and casinos and stopped that. yes. work for it. why not? >> we laugh at this starvation comment from this one lawmaker, but you know the mainstream media will come out with exam e examples of people who do appear to be sartarving and will be hu tremendously by this idea? >> i would say the fear of starvation is a pretty good
motivator for a lot of people. it got me off my butt when i was lazy in my 20s. athletes have to work out to become good athletes >> the you have to go to work to know how to work. you have to know how to dress, know about hygiene and work conversations. you get out of those habits and you become really unemployable for a long time. >> and what democrats also say, if you want get a job, you need some help to get over the hump. the problem conservatives say is people get addicted to it. >> maybe so. but i think every welfare program, medicaid, housing, food sta stamps, should have work retirement, not with any notion we're saving taxpayers money, the notion what rich is talking about, in still good work habits. >> mike, even though it was bill clinton that came up -- he didn't come up with the ideas, the republicans did but he signed onto it at least. is it too radioactive for
democrats to approve of during this election cycle? >> probably for the democrats. don't see hillary clinton or bernie sanders going that way. if you make to the public they will buy in. you have something wrong in 2011, 2012, 2013, both the number of people and amount being spent on welfare and food stamps was increasing, even though the unemployment rate was falling. something's wrong with that picture. >> it does have a common sense element to it, this proposal, this is a time when americans want common sense answers to long standing problems. >> absolutely. it's not just common sense. we've been thinking in this way for well over a century. we think democrats and progressives originally thought about this sense of self-improvement that has to be attached to helping people. none of us up here want a go it alone society. we all recognize when it's washington 3,000 miles away offering handouts, it simply doesn't work. >> incentives matter.
thank you very much. the "cashin in" gang, what have you got? >> the problem giving advice on the 2016 race. any problems with this? the president said it, we're debating it. see you at 11:30. >> we will be watching. shut down, melt down, d.c. metro users could see a six month shout down and another billion dollars in tax at mfs investment management, we believe in the power of active management. we actively manage with expertise and conviction. so you can invest with more certainty. mfs. that's the power of active management.
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another d.c. shut-down, this time, it could be the metro system, the d.c. officials s saying the metro needs so many repairs they may need to shut down the whole thing for half a year at a cost of a billion dollars, your money. you say this is what always happens with government proje projects. >> imagine if disneyland or others said we will shut down for six months. they won't allow it. that's the problem of government, they are not discipli disciplined by the market. imagine how nice the market would be and few shut-downs there would be if owned by private entities. >> let's take another private entity, amtrak. it used to be private, the government took it over. ben losing more than a billion
dollars every single year. no private company could do that. >> when i first saw this story, it was a sign to me we have a crumbling infrastructure in this country that needs to be addressed on all levels. you don't even hear the candida about it. whether you want to feed people and you want to raise fees or talk about a gas tax or feed all these fat cat lobbyists as they head to work downtown and run up spending there has a be a different way to look at it from an infrastructure. >> this goes beyond infrastructure. post office losing 3 billion, 8 billion, 5 billion, 16 billion, they don't have to worry as long as it's government run? >> not as long as the government is there. there's no infrastructure crisis for companies. we don't have an infrastructure crisis with 48 railways and
u.p.s. they have to serve the public and if they don't, they lose. politicians just have to serve the scial interests and the public be damned. >> infrastructure has to do with public unions that have a strangle hold over the decisions in the contract. >> they hov no more sense than a flock of geese in washington, d.c. half of the capitol budget for this training station goes to union fringe benefits. guess what? they're moving to privatize rail service in florida. that could perform very nicely. >> sabrina, i have to bring it back to donald trump. remember that ice skating rink in central park in manhattan, the city government, granted city government, they were working on five years, he took it over in three months and under budget he was finished with it. the private sector does it better. >> right. you showed, david, all those lists of all the ways we're losing money at the post office and am track. it's no surprise, that's exactly why democrats, when this story broke, immediately went to their lawmakers in congress and said, we need more money.
there's still no accountability. >> shouldn't we just privatize all of this, won't that make sense? >> no, david. there's nothing magical about private ownership. back in the days of private ownership a century ago, plenty of bankruptcies on private ownership and in long island they killed a lot more people under private ownership than in the 50 years since. >> as usual, steve is always right. why doesn't the private sector ever have any infrastructure problems? >> steve is always right. >> steve is always right. why at ally bank, no branches equals great rates. it's a fact. kind of like social media equals anti-social. hey guys, i want you to meet my fiancée, denise. hey. good to meet you dennis.
at ally bank, no branches equals great rates. it's a fact. kind of like bill splitting equals nitpicking. but i only had a salad. it was a buffalo chicken salad. salad. the final four contest tonight. we're back with your champion picks. you got a bunch of good stocks in one fund. goldman sachs, pretty cheap, analyzed return of 14%. >> you like it? >> i like it except for the fees and performance and turnover.
>> what is eslt systems? >> it protects goods guys from bad guys? >> i like this one. a good stock. >> good. that is it for "forbes on fox." have a wonderful weekend. keep it right here. eric and "cashin in." j president obama scolding the media for its coverage of the 2016 race crimine i claiming ite for donald trump. >> there's enormous pressure on journalists to fill the void and feed the beast with instant commentary and twitter rumors and celebrity gossip. i believe the ned work would be -- network would be better served if your producers give you the capacity to follow your best instincts and dig deeper for things that may not always be flashing but need attention. >> is that why donald trump is ri